Miami, Florida

Population

Growing. Up 10.6% since 2020.

489,812

people, the 2nd-largest of Florida's cities and towns.

Census Population Estimates, 2025. Rank among Florida's cities and towns computed by the Almanac. Sources: Census Population Estimates

The workday

8 in 10 jobs here go to people who live somewhere else.

81.2%

of 326,995 jobs located in Miami are filled by in-commuters.

Census LEHD LODES, 2023. Sources: Census LEHD LODES

Unemployment, 2026

The low came in July: 2.2%.

2.4%

in August 2026, the latest month released. A year earlier it was 2.7%.

BLS Local Area Unemployment Statistics, monthly, through August 2026. Not seasonally adjusted, so compare with the same month a year earlier. Sources: BLS Local Area Unemployment Statistics

Rent

Median rent is up 110% since the 2005–2009 survey, before inflation.

$1,758

a month. Florida's median is $1,669.

Census ACS 5-year, 2020-2024 (latest), with earlier 5-year windows. Sources: Census ACS 5-year

The seam

Cross one tract line and median rent doubles.

A $3,210 gap between neighbors, the sharpest rent edge between adjacent tracts in Miami-Dade County.

• $291 Tract 106.10
• $3,501 Tract 82.09

Census ACS 5-year, 2020-2024, adjacent tracts compared by the Almanac. Tract estimates carry wide margins of error. Sources: Census ACS 5-year

Room to build

The median rent sits inside what local wages can carry.

$1,226–$1,839

is the monthly rent range local workforce wages support.

• $1,758 median

Supportable rent computed by the Almanac from 2023 source wage data. Median rent: Census ACS 5-year, 2020-2024. Sources: Computed by the Almanac, Census ACS 5-year

Building

64% of the housing here was built before 2000.

• 50,622 homes permitted in ten years, 2016–2025
• 98% of those were in multifamily buildings
• 64% of all homes were built before 2000

Census Building Permits Survey, 2016–2025; Census ACS 5-year, 2020-2024. Sources: Census Building Permits Survey, Census ACS 5-year

Units needed

Closing the gap would add 1% to the 223,826 homes here.

1,406–3,270

is the estimated number of missing housing units, from the lowest to the highest of three estimates.

Range computed by the Almanac from 2023 jobs and household data, using three demand models: 1% of jobs located here, 1% of renter households, and a rate by town size applied to renters. The low end is the lowest of the three and the high end the highest. It is an estimate, not a count. Sources: Computed by the Almanac

Home value

A median home costs 44% more than Florida's.

$518,100

median home value in Miami.

• $518,100 Miami
• $359,000 Florida
• $332,700 U.S.

Census ACS 5-year, 2020-2024. Sources: Census ACS 5-year